Central Florida Urban League President Allie Braswell Jr. has quit his campaign to become the state's chief financial officer after it was revealed he has filed for bankruptcy three times.

Braswell sent out a press release early Monday withdrawing from the race, four days after he joined it.

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After he announced his candidacy, The Florida Times-Union reported Braswell had filed for bankruptcy three times in two states. The latest was filed in 2008 and showed he had $509,000 in liabilities with only $324,000 in assets. He then defaulted on a payment plan.

Braswell had never run for political office. He held management positions with Walt Disney World for seven years before being named to lead the Central Florida Urban League in 2010. He also served 13 years in the Marines.